New OPIS Contract Available for Trading at ICE Futures Europe
Gaithersburg, MD, August 18, 2016 — Oil Price Information Service (OPIS), an IHS Markit company (Nasdaq: INFO) and a leading provider of gasoline and diesel spot pricing information, today announces the introduction of a new futures contracts at ICE Futures Europe.
Starting Monday, August 22, 2016, ICE Futures Europe will list the Group 3 V-Grade Sub-Octane Gasoline (OPIS) vs RBOB Gasoline 1st Line Future.
“As with last fall’s addition of four new OPIS listings on ICE including Diesel Diff – OPIS Group 3 ULSD vs Heating Oil 1st Line Future, we are once again honored to be chosen by ICE as a pricing option in the crude oil, natural gas liquids and refined products markets,” said Brian Crotty, OPIS President, in announcing the selection.
The OPIS Group 3 numbers cited by ICE are made transparent on a daily basis via the “OPIS Full-Day Refined Spots Report” but can also be tracked through the trading day with the OPIS Spot Ticker, a real-time interactive price display. This pricing option will be instrumental for Midwest oil refiners, traders, wholesalers, and end-users who want to buy, sell, trade or hedge based off OPIS Group 3 spot prices.
In November 2015, ICE listed four new OPIS-based products attesting to OPIS’s leadership position in tracking these commodities:
- Diesel Diff – Group 3 ULSD (OPIS) vs Heating Oil 1st Line Future
- Propane, OPIS Mt. Belvieu Other Non-TET Future
- Propane, OPIS Mt. Belvieu TET vs Propane, Argus Far East Index (AFEI) Future
- Propane, OPIS Mt. Belvieu Non-TET vs Propane, Argus Far East Index (AFEI) Future
In 2015 OPIS was recognized by the International Organization of Securities Commissions (IOSCO) for its high standards of market price reporting that include daily market price assessments that are “fair, efficient, and transparent.”
“Through a series of individual audits testing OPIS’ price methodology, approach to market coverage, communications with customers, and price authentication process, OPIS has fully met the high standards set by IOSCO,” said Robert Gough, Vice President of Content, OPIS.
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